October Expiration
Today is the expiration of our five October Covered Calls. Here is where we stand with each …
Let’s begin with our PureStorage (PSTG) covered call. Initially, we bought the stock for 77.85 and sold the October 75 call for $5.90.
Today, the stock is trading at 92. My plan is to simply let this position play itself out. If PSTG closes above 75 today (very likely), we will walk away with our profit of $305 per covered call, or a yield of 4.23%.
Moving on to Kratos Defense (KTOS). Last month, we bought stock at 63 and sold the October 62.5 call for $4.90.
Today, the stock is trading at 85. My plan is to simply let this position play itself out. If KTOS closes above 62.5 today (very likely), we will walk away with our profit of $440 per covered call, or a yield of 7.57%.
Next up is Cameco (CCJ). Last month, we bought the stock at 81.5 and sold the October 80 call for $5.45.
Today, the stock is trading at 89. My plan is to simply let this position play itself out. If CCJ closes above 80 today (very likely), we will walk away with our profit of $395 per covered call, or a yield of 5.19%.
Moving on to Coupang (CPNG). Last month, we bought the stock at 32.45 and sold the October 32 call for $1.20.
Today, the stock is trading at 31. My plan is to simply let this position play itself out. If CPNG closes below 32 today (likely), the October 32 call will expire worthless, and next week we will likely sell out of our stock position.
Finally, let’s look at Lyft (LYFT). Last month, we bought the stock at 22.3 and sold the October 23 call for $0.75.
Today, the stock is trading at 19.5. My plan is to simply let this position play itself out. If LYFT closes below 23 today (very likely), the October 23 call will expire worthless, and next week we will likely sell out of our stock position.
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